Par

This Issue in United States

Concept of Par in Futures Trading

In this context of financial law, the following are some alternative definitions of Par: (a) Refers to the standard delivery point(s) and/or quality of a commodity that is deliverable on a futures contract at contract price. Serves as a benchmark upon which to base discounts or premiums for varying quality and delivery locations; (b) in bond markets, an index (usually 100) representing the face value of a bond.